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The Government of India has mandated <keyword id="3005928" type="PERSON" weightage="20" keywordseo="FASTag">FASTag</keyword> for all the vehicles operating on the Indian roads with effect from December 1, 2019. FASTag is the electronic toll collection system innovated by the National Payments Corporation of India (<keyword id="193629" type="CITY" weightage="20" keywordseo="NPCI">NPCI</keyword>). A note posted by NPCI on its website observes, "FASTag offers the convenience of cashless payment along with benefits like - savings on fuel and time as the customer does not have to stop at the toll plaza." Talking about FASTag, Nitin Gadkari, Union Minister for Road Transport and Highways said that FASTag is being viewed as the 'Aadhaar' for all vehicles operating in the nation. He also added that the existing infrastructure can support more than six million tags which will be able to carry out about 10 lakh transactions per day. Why the government wants to move to FASTag system? FASTag is yet another move towards increasing the volume of digital transactions and reducing the handling of paper money. FASTag will rule out the need for long queues and wastage of time while the vehicles need not have to wait for making cash transactions at the toll plazas. Shortening the queues and waiting time will also mean lessening the air pollution. FASTag is also a way of easy vehicle identification system the system will give a unique identification number to every vehicle for its lifetime. What the government is doing about FASTag? For testing purposes, FASTag system was launched in 2014 and it has been steadily expanding since then to cover more vehicles. However, the government has recently notified that from December 1, 2019, all the National Highways in India will collect toll payments through FASTag technology only. FASTag is based on Radio Frequency Identification (RFID) Technology. The toll collection booths across the country are now fast equipping themselves with electronic toll collection infrastructure (ETC) for supporting the vehicles equipped with FASTag. The government has also partnered with 23 banks in the country to issue FASTag to the vehicles running on Indian roads including State Bank of India (SBI), ICICI Bank, HDFC Bank, and Axis Bank. NHAI has also partnered with Amazon and PayTM to distribute the FASTags quickly to as many vehicles as possible. How does the FASTag system work? Based on the Radio Frequency Identification Technology (RFID), the system will facilitate the toll plazas collect the toll payment through digital means while the vehicle is in motion through the dedicated lanes that are specially equipped with the necessary supporting infrastructure. The toll charges will be debited directly from the prepaid or savings account of the vehicle owner. The vehicles need to affix the FASTag RFID tag onto their windscreen. The toll payments will be automatically initiated when the vehicle passes through the NETC supported toll plaza. The government has also provided the option of integrating the existing savings or current bank account with FASTag for the purpose of facilitating seamless payments on toll plazas.

Why FASTag Is mandatory from december 1 for all vehicles and what govt wants to do

<keyword id="3005928" type="PERSON" weightage="20" keywordseo="FASTag">FASTag</keyword> is an innovative and sophisticated electronic toll collection system that is being introduced in India. This scheme is presently operated by the National Highway Authority of India (NHAI). FASTag works by Radio Frequency Identification (RFID) technology. Under this system, toll payments can be made directly from the prepaid or savings account linked to the system. FASTag is affixed to the windscreen of the vehicle and the vehicle can be driven through the toll plazas without making a stopover for transactions. The tag is made available for purchase from the participating banks or official Tag issuers. Once FASTag is linked to the prepaid account of the vehicle owner, recharging or top-up can be done as per the wish of the owner. FASTag has an unlimited validity as per the announcement made by NHAI. In order to promote the use of FASTag among the vehicle owners, 7.5% cashback offer has been introduced. In a number of toll plazas, there are exclusively dedicated lanes built for the vehicles fitted with FASTag. In January 2019, some state run oil companies like IOC, BPCL and HPCL have signed MoUs that make it possible to use FASTag system while making purchases from petrol pumps. FASTag lanes are increasing rapidly across a large number of toll plazas in the country. The government of India has announced that FASTag will be made mandatory for all vehicles from December 1, 2019. Those vehicles that have not moved to the FASTag system will have to pay double the toll charges as per the present announcement.

What is Fastag for vehicles and how it works

New Delhi, Jan 3 () CSC e-Governance Services India on Friday said it has signed a memorandum of understanding with Paytm Payments Bank Ltd (PPBL) for sale of FASTags.
The agreement will facilitate sale of PPBL FASTags through the last mile network of 3.6 lakh CSCs, helping realise the government's vision of cashless and smooth transit at all toll plazas across country, a statement said.
"As per the MoU, CSC and Paytm Payments Bank will jointly aim to sell FASTags. For this, CSC will integrate its platform with Paytm Payments Bank to carry out seamless transactions," it added.
The Village Level Entrepreneurs will be trained on conducting paperless and cashless sales, the statement said.
FASTags -- which work on Radio Frequency Identification (RFID) technology -- have been made mandatory at toll gates on national highways. The FASTag process allows toll payments directly from the prepaid or savings account linked to it, thus doing away with the need for waiting in queues, saving time and fuel.
As of December 31, over 1.15 crore FASTags have been issued.
CSCs started selling FASTags in September 2017 when it partnered with Equitas Bank. Later on, State Bank of India and HDFC Bank came onboard.
Since March 2019, CSC has tied up with National Highways Authority of India (NHAI) also for selling FASTags. Around 2.84 lakh FASTags have been sold by CSCs across the country so far, with Maharashtra, Punjab, Tamil Nadu, Kerala, Haryana and Gujarat topping the list of states with maximum sales. 
"CSCs have been providing FASTag service for the past two years. With FASTags becoming mandatory, we have received more than 8 lakh orders from VLEs. The transition towards digitization of toll tax payments through digital payment is a significant step towards modernisation," CSC SPV CEO Dinesh Tyagi said.
In addition, CSCs are also serving the vehicle owners and transporters through FASTag 'top-up' through wallet recharge. So far, more than Rs 74 crore worth top-up for FASTags has been done by VLEs across the country. SR BAL

CSC inks pact with Paytm Payments Bank for sale of FASTags

New Delhi, Dec 14 () To avert inconvenience to citizens, the government on Saturday announced to convert up to 25 per cent of FASTag lanes at national highway toll plazas to hybrid lanes for a month.
 The hybrid lane will accept FASTag and other modes of payment.
 The government earlier had announced rollout of mandatory FASTag under electronic toll collection from December 1, which was later extended to December 15, 2019.
 "Considering the request of NHAI and further the citizens are not put to inconvenience... it is decided that depending on the traffic pile up at high traffic volume fee plazas, not more than 25 per cent 'FASTag lane of fee plaza' may be temporarily converted to hybrid lanes," the Ministry of Road Transport and Highways said.
 This is to be considered on a case to case basis, it added.
 "A daily evolution of such cases be made to take necessary corrective action," it said.
 It should be ensured that the least possible number of the declared FASTag lanes are converted into hybrid lanes and at least 75 per cent lanes of every fee plaza should remain operational as FASTag lanes, it added.
 The ministry clarified that it is a temporary measure to be adopted for 30 days only to facilitate smooth flow of traffic so that no inconvenience is caused to the citizens.
 The government had earlier extended the date to December 15 for making FASTag mandatory for toll payments on national highways.
 The National Electronic Toll Collection (NETC) programme, the flagship initiative of the ministry, has been implemented on a pan-India basis in order to remove bottlenecks and ensure seamless movement of traffic and collection of user fee as per the notified rates, using passive radio frequency identification (RFID) technology.
 After announcement of waiver of tag cost from November 21, there has been a growth in FASTag issuance.
 To give a fillip to digital payments and bring in enhanced transparency, the ministry had directed to declare all lanes of fee plazas on National Highways as 'FASTag lanes' by December 1. However, one lane in each direction was decided to be kept as 'hybrid lane' which will accept FASTag and other modes of payment.
 A customer may call on the helpline number '1033' for any assistance related to FASTags, the ministry had said and added that they can also reach out to banks to obtain FASTags. NAM ABM
ABM

Up to 25 pc of FASTag lanes to be temporarily converted to hybrid lanes at NH toll plazas

New Delhi, Dec 2 () Auto industry body SIAM on Monday said mandating FASTags at toll plazas on all highways by the government from December 15 will improve overall transportation efficiency as there will be faster turnaround time for movement of goods and passengers.
 Last week, the government had extended the date for making FASTag mandatory for toll payments on national highways from December 15, instead of December 1. It would charge double user fee from vehicles entering FASTag lane without FASTag from December 15.
 "100 per cent implementation of FASTags would have several economic and environmental benefits in the road transportation sector with seamless movement through the toll plazas, thereby ensuring faster turnaround time for movement of goods and passengers and improving overall transportation efficiency," Society of Indian Automobile Manufacturers (SIAM) President Rajan Wadhera said in a statement.
 SIAM said its members have been playing a crucial role along with the centre for the FASTags initiative in the last two years as a robust process at dealers' end has been established for fitment of FASTags for new passenger vehicles, buses and trucks sold from December 1, 2017.
 "It is estimated that more than six million FASTags have been issued recently and this has also ensured growth in FASTags transactions at the Electronic Toll Plazas," SIAM said.
 FASTag is a prepaid tag affixed on vehicle's windscreen that enables automatic deduction of toll charges and, lets the vehicle pass through the toll plaza without stopping for the cash transaction. RKL SHW
SHW

Mandating FASTags at toll plazas to help improve transportation efficiency: SIAM

<ul><li><keyword id="3005928" type="PERSON" weightage="20" keywordseo="FASTag">FASTag</keyword> can now be recharged using PhonePe, Google Pay and BHIM.</li><li>At present, Paytm does not allow users to recharge FASTags from other banks.</li></ul>In its push towards automated digital payments at toll plazas, the Indian government has made FASTag mandatory on all national highways. It partnered with over 20 banks to facilitate this change. Earlier, if you had a FASTag from a particular bank, you could add money to it using only that bank’s app or website. A few weeks ago, RBI <a href="https://www.livemint.com/news/india/rbi-makes-fastag-easier-you-can-now-use-upi-and-all-these-other-payment-methods-11577712758505.html">announced</a> that UPI, cards and other payment methods can be linked to FASTags, making recharges easier. Now, popular payment apps such as PhonePe, Google Pay and BHIM can be used to recharge your FASTag. At the moment, only a few FASTag issuing banks have been listed on PhonePe and Google Pay. The remaining banks will likely be added in the coming days. At the moment, Paytm and Airtel Payments Bank is allowing users to recharge only the FASTag issued by them. How to use PhonePe to recharge your FASTag At present, not all users have the option of FASTag recharge in their PhonePe app. If you haven’t received this yet, wait for some time. <ul><li>Open the PhonePe app and click on the FASTag icon. </li><li>Now, select your FASTag issuing bank and provide the required details. </li><li>If your FASTag issuing bank is not listed, please check again after a few days. </li></ul>How to use Google Pay to recharge your FASTag <ul><li>Open Google Pay and click on ‘New’. </li><li>Now, in the ‘Suggested Businesses’ section, click on ‘More’ and select ‘FASTag recharge’. </li><li>Select your FASTag issuing bank and proceed with the recharge. </li></ul>How to use BHIM to recharge your FASTag <ul><li>Open BHIM app and select ‘Send’ from the home screen. </li><li>Now, enter the NETC FASTag UPI ID as netc.VehicleNumber@BankUPIHandle. </li><li>Click verify, enter the recharge amount and your PIN to complete the transaction. </li></ul>See also: <a href="https://www.businessinsider.in/business/news/fastag-govt-relaxes-norms-for-65-high-cash-transaction-toll-plazas-for-30-days/articleshow/73272634.cms">FASTag: Govt relaxes norms for 65 high cash transaction toll plazas for 30 days</a> <a href="https://www.businessinsider.in/business/news/csc-inks-pact-with-paytm-payments-bank-for-sale-of-fastags/articleshow/73088507.cms">CSC inks pact with Paytm Payments Bank for sale of FASTags</a> <a href="https://www.businessinsider.in/business/news/1-10-cr-fastags-issued-till-date-for-electronic-toll-collection-on-national-highways/articleshow/72953655.cms">1.10 cr FASTags issued till date for electronic toll collection on national highways</a>

How to recharge your FASTag using PhonePe, Google Pay and BHIM

New Delhi, Nov 28 () Online trucking platform BlackBuck on Thursday said it has partnered with private lenders IDFC Bank and Yes Bank to provide FASTags to truck owners free of cost.
Truck owners can order FASTags on BlackBuck's Boss App, a digital services platform exclusively for truck fleet owners, and it will be delivered at their doorstep free of cost until December 31, 2019, the company said in a statement.
"BlackBuck offers free FASTags to truck owners across India. The FASTags on BlackBuck Boss app are provided in partnership with IDFC Bank and Yes Bank. The initiative is expected to help over 3 million trucks in India become FASTag compliant," it said.
Rajesh Yabaji, co-founder BlackBuck, said, the government's decision to make FASTag mandatory is a significant push towards making digital trucking economy a reality.
With this initiative, the company looks forward to support the government's national electronic tolling agenda, which will reduce tolling times and revolutionise the logistics sector in India, he said.
From December 1, 2019 all lanes of free plazas on national highways will be 'FASTag lanes'.
The National Electronic Toll Collection (NETC) programme, the flagship initiative of the Ministry of Road Transport and Highways, has been implemented on a pan-India basis in order to remove bottlenecks and ensure seamless movement of traffic and collection of user fee as per the notified rates, using passive radio frequency identification (RFID) technology. ABI BAL

BlackBuck partners with IDFC Bank, Yes Bank to offer free FASTags to truckers

New Delhi, Nov 29 () The government on Friday announced extending the date to December 15 for making FASTag mandatory for toll payments on national highways. 
 The Ministry of Road Transport and Highways had earlier announced that from December 1, toll payments on highways would be accepted through FASTags only. 
 "To facilitate sufficient lead time to citizens to obtain FASTag, it has now been decided that all the lanes in the Fee plazas shall be declared as 'FASTag lane of Fee Plaza' by December 15, 2019," a Ministry of Road Transport and Highways communication said. 
 The National Electronic Toll Collection (NETC) programme, the flagship initiative of the Ministry of Road Transport and Highways, has been implemented on a pan-India basis in order to remove bottlenecks and ensure seamless movement of traffic and collection of user fee as per the notified rates, using passive radio frequency identification (RFID) technology.
 Over 70 lakh FASTags had been issued till Wednesday, with the highest per-day issuance of 1,35,583 tags on November 26, 2019, whereas 1.03 lakh tags were issued on the day before. 
 The average daily issuance had grown by 330 per cent from 8,000 in July to 35,000 tags sold in November 2019 after the Government announced to implement it from December 1.
 After announcement of waiver of tag cost from November 21, there has been a growth in FASTag issuance.
 To give a fillip to digital payments and bring in enhanced transparency, the ministry had directed to declare all lanes of fee plazas on national highways as 'FASTag lanes' by December 1.
 However, one lane in each direction was decided to be kept as 'hybrid lane' which will accept FASTag and other modes of payment..
 "With the above mandate, average daily transactions processed through FASTag have grown from 8.8 lakh in July this year to 11.2 lakh transactions in November 2019, while the average daily collection has grown from Rs 11.2 crore to Rs 19.5 crore for the given period," the ministry has said earlier this week.
 All the available mode of recharges such as debit card, credit card, net banking and Unified Payments Interface have been enabled for loading money to the FASTag account.
 A customer may call on the helpline number, '1033', for any assistance related to FASTags, the ministry said and added that they can also reach out to the banks to obtain FASTags. NAM MR

Govt extends mandatory FASTag roll out date to Dec 15

<ul><li>The Centre announced on Wednesday that it wants to amend the country’s <keyword id="535772" type="ORGANIZATION" weightage="20" keywordseo="Motor-Vehicle-Rules">Motor Vehicle Rules</keyword>. </li><li>The amendment will make it compulsory for authorities to accept digital versions of all vehicle documents. </li><li>It also makes <keyword id="6435154" type="UNKNOWN" weightage="20" keywordseo="Fitness-Test">fitness test</keyword> rules easier for new and old vehicles. </li></ul>It’s hard to believe that authorities in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> do not accept digital versions of motor vehicle documents right now, given the country’s digital drive in recent years. However, this is set to change, as the Centre, on Wednesday, announced that it is set to amend the country’s <a href="https://timesofindia.indiatimes.com/india/soon-just-carry-e-versions-of-vehicle-papers/articleshow/65016729.cms">Motor Vehicle Rules</a> to make it compulsory for the authorities to accept digital versions of all vehicle documents. The documents include the Pollution Under Control certificate, insurance documents, the Registration Certificate (RC) and Driver’s Licence, which will be stored in an online locker called <keyword id="2905762" type="PERSON" weightage="20" keywordseo="DigiLocker">DigiLocker</keyword>. It is an initiative under the Indian government’s Digital India programme. The digital documents can also be used at airports as valid identity documents. The road ministry is expected to issue an advisory in about two days. Back in 2016, the Telangana government had rolled out a similar state policy with the help of a digital locker named <a href="https://www.deccanchronicle.com/technology/in-other-news/310316/telangana-now-carry-e-version-of-licence-and-rc.html">M-Wallet</a>. However, some state transport authorities and traffic police had refused to accept the digital versions. However, once the Motor Vehicle Rules are updated, it will be mandatory for them to accept these. The <a href="https://www.hindustantimes.com/india-news/soon-carry-digital-versions-of-driving-licence-registration-in-your-cell-phone/story-5cLKMc0KsFfOwczk4LSXhL.html">draft </a>also puts out a rule to do away with mandatory norm of two drivers in long-haul vehicles. The ministry has proposed mandatory installation of FASTags, fixing reflective tapes and a vehicle tracking system in all National Permit vehicles. Other than the provisions mentioned above, the Centre is also looking to make things easier for commercial vehicles. You can check out their entire guidelines <a href="http://transport.bih.nic.in/Guidelines/Guidelines-for-Issuance-Renewal-of-Fitness-Certificate.pdf">here</a>.

Indian authorities are being told to accept digital versions of vehicle documents, finally

<keyword id="6379384" type="COMPANY" weightage="20" keywordseo="copenhagen">Copenhagen</keyword>, Danish Prime Minister Mette <keyword id="4775295" type="COMPANY" weightage="20" keywordseo="frederiksen">Frederiksen</keyword> announced the extension of the current nationwide Covid-19 lockdown until <keyword id="47381" type="PERSON" weightage="20" keywordseo="January">January</keyword> 17, 2021, in an effort to stem the further spread of the virus. "Let me say it very clearly. The situation with infection rates and hospitalisations is more serious now than it was in the spring," Xinhua news agency quoted Frederiksen as saying to reporters on Tuesday. Shopping centres, schools, restaurants and bars are currently closed across most of <keyword id="49968" type="LOCATION" weightage="20" keywordseo="Denmark">Denmark</keyword> until January 3, but with the <keyword id="11104" type="COMPANY" weightage="20" keywordseo="country">country</keyword> on Monday registering a record 30 Covid-19 deaths, some or all of these <keyword id="6413318" type="UNKNOWN" weightage="20" keywordseo="Restrictions">restrictions</keyword> are likely to be extended. All public employees who do not deliver critical services are required to work from home and the Prime Minister called on all private companies to also move to remote work. "As soon as we can lift the restrictions, we will do it," Frederiksen added. As Covid-19 infection rates continue to rise in the country, she called upon Danes to revise their plans for the New Year celebrations and see only members of their own household or possibly a few acquaintances from the closest circle of friends. "The health authorities recommend that we limit New Year's Eve this year," the Prime Minister said. On Tuesday, Denmark's Statens Serum Institut (SSI) reported 2,621 new Covid-19 cases and a another 22 deaths. To date, the country has registered a total of 158,447 confirmed cases and 1,226 deaths, according to the SSI. "The vaccine has lit a light of hope, but we know that there are still some tough months ahead of us," Frederiksen added. SEE ALSO: <a href="https://www.businessinsider.in/india/news/these-are-some-important-changes-in-india-from-january-1-2021-new-year/articleshow/80021085.cms">From mandatory FAStag to quarterly GST returns — these are some important changes in India from January 1</a> <a href="https://www.businessinsider.in/business/auto/news/heres-what-to-expect-from-maruti-mm-hero-bajaj-auto-and-other-automakers-in-december-month-2020-auto-sale/articleshow/80021695.cms">December auto sales estimates — Here’s what to expect from Maruti, M&amp;M, Hero, Bajaj Auto, and other automakers</a> <a href="https://www.businessinsider.in/tech/apps/news/google-is-testing-a-shortcut-feature-for-tiktok-and-instagram-videos/articleshow/80021865.cms">Google is testing a shortcut feature for TikTok and Instagram videos</a>

Denmark extends nationwide lockdown till January 17 to curb the spread of COVID-19

New Delhi, Office space absorption across six major cities in India fell over 50% to 27.4 million square feet in 2020, according to a <keyword id="10518151" type="UNKNOWN" weightage="20" keywordseo="savills-india-report">Savills India report</keyword>. In 2019, office space spread over 55.7 million square feet was leased. Out of the total office leases in 2020, around 57% comprised large deals of more than 1,00,000 square feet each. The report said that <keyword id="6354321" type="COMPANY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword> led the leasing activity among the major cities despite a drop of 56% compared with last year, posting maximum office absorption of 6.8 million square feet space. <keyword id="6354552" type="LOCATION" weightage="20" keywordseo="hyderabad">Hyderabad</keyword> followed closely with leasing of 5.4 million square feet in 2020. Leasing of office space in the <keyword id="6371638" type="COMPANY" weightage="20" keywordseo="national-capital-region">National Capital Region</keyword> (NCR) stood at 4.4 million square feet. Like previous year, Bengaluru, Hyderabad and NCR constituted around 61% of the total leasing activity in 2020 as well, showed the report. Savills India also pointed out that <keyword id="6358070" type="LOCATION" weightage="20" keywordseo="mumbai">Mumbai</keyword>, India's financial capital, recorded around 2.9 million square feet of leasing through the year, the least absorption witnessed among the six cities. "The overall story of 2020 is the one of survival, and most markets did exactly that. While the story of Indian office market in 2020 may not be as glorious as in 2019 and 2018, it still continues to strive and display resilience, in the face of COVID-induced slowdown," said Anurag <keyword id="108548" type="COMPANY" weightage="20" keywordseo="Mathur">Mathur</keyword>, CEO, Savills India. He noted that the fundamentals of Indian economy remain intact and strong leasing traction continues in sectors like warehousing and industrial. "Now with the coronavirus vaccine in sight and businesses poised to gain momentum, we can expect to reach pre-COVID levels soon," Mathur said. SEE ALSO: <a href="https://www.businessinsider.in/india/news/these-are-some-important-changes-in-india-from-january-1-2021-new-year/articleshow/80021085.cms">From mandatory FAStag to quarterly GST returns — these are some important changes in India from January 1</a> <a href="https://www.businessinsider.in/business/auto/news/heres-what-to-expect-from-maruti-mm-hero-bajaj-auto-and-other-automakers-in-december-month-2020-auto-sale/articleshow/80021695.cms">December auto sales estimates — Here’s what to expect from Maruti, M&amp;M, Hero, Bajaj Auto, and other automakers</a> <a href="https://www.businessinsider.in/tech/apps/news/google-is-testing-a-shortcut-feature-for-tiktok-and-instagram-videos/articleshow/80021865.cms">Google is testing a shortcut feature for TikTok and Instagram videos</a>

India office leasing in top six cities falls over 50% in 2020: Savills India

<keyword id="6358777" type="LOCATION" weightage="20" keywordseo="New-Delhi">New Delhi</keyword>, <keyword id="6355199" type="DOMAIN" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> Limited (RIL) and BP Exploration Alpha Limited (BPEAL) have invited <keyword id="48985" type="PERSON" weightage="20" keywordseo="Bids">bids</keyword> through an online platform companies for the <keyword id="6355653" type="UNKNOWN" weightage="20" keywordseo="gas">gas</keyword> produced from the <keyword id="187231" type="PERSON" weightage="20" keywordseo="KG-D6-Basin">KG D6 basin</keyword> in Kakinanda. In a <keyword id="1176272" type="PERSON" weightage="20" keywordseo="public-notice">public notice</keyword>, RIL and BP while inviting bids said they expect to sell the gas from February 1, 2021. "The gas produced for KG D6 will be available for sale at the delivery point at Gadimoga near Kakinada, Andhra Pradesh tentatively from 01 February 2021," RIL and BP said in the notice. Crisil Risk and Infrastructure Solutions has been appointed by the consortium to conduct the bidding process for sale of gas through an online web based electronic bidding platform. The consortium is currently producing and developing deep water gas fields under the production sharing contract with the government. Earlier this month, RIL and BP had announced the start of production from the R Cluster, ultra-deep-water gas field in block KG D6 off the Kakinada coast. RIL and BP are developing three deepwater gas projects in block KG D6  R Cluster, Satellites Cluster and MJ  which together are expected to meet 15% of <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>'s gas demand by 2023. These projects will utilise the existing hub infrastructure in KG D6 block. RIL is the operator of KG D6 with a 66.67% participating interest and BP holds a 33.33% participating interest. R Cluster is the first of the three projects to come onstream. The field is located about 60 kilometers from the existing KG D6 Control &amp; Riser Platform (CRP) off the Kakinada coast and comprises a subsea production system tied back to CRP via a subsea pipeline. Located at a water depth of greater than 2000 meters, it is the deepest offshore gas field in Asia. The field is expected to reach plateau gas production of about 12.9 million standard cubic meters per day (mmscmd) in 2021. SEE ALSO: <a href="https://www.businessinsider.in/india/news/these-are-some-important-changes-in-india-from-january-1-2021-new-year/articleshow/80021085.cms">From mandatory FAStag to quarterly GST returns — these are some important changes in India from January 1</a> <a href="https://www.businessinsider.in/business/auto/news/heres-what-to-expect-from-maruti-mm-hero-bajaj-auto-and-other-automakers-in-december-month-2020-auto-sale/articleshow/80021695.cms">December auto sales estimates — Here’s what to expect from Maruti, M&amp;M, Hero, Bajaj Auto, and other automakers</a> <a href="https://www.businessinsider.in/tech/apps/news/google-is-testing-a-shortcut-feature-for-tiktok-and-instagram-videos/articleshow/80021865.cms">Google is testing a shortcut feature for TikTok and Instagram videos</a>

RIL and BP expect to sell gas from KG-D6 deep water blocks starting February

New Delhi, Mar 11 () The GST Council is likely to rationalise tax rates on five sectors, including mobile phones, footwear and textiles, and defer implementation of the new return filing system and e-invoicing in its meeting on March 14. The Council, chaired by Finance Minister Nirmala Sitharaman, would also discuss operational glitches on the GST Network portal and seek a resolution plan from Infosys, which has won the contract for managing back-end for GSTN in 2015, officials said. Further, ways to augment revenue collection would also be discussed as the Centre has made it clear to the states that it does not have money in compensation funds to pay off the states for loss in revenue due to the goods and services tax (GST) implementation. The Council would also discuss the integration of the GST e-way bill system with the NHAI's FASTag mechanism from April to help track movement of goods and check GST evasion, while also discuss preparedness for Aadhaar-based authentication of GST-registered taxpayers. The planned lottery scheme under GST, which is proposed to be launched from April 1, would also be discussed in the meeting, officials said. "The Council would discuss rationalisation of GST rate in sectors which see duty inversion, leading to high input credit refund claims," an official told . Currently, cellular mobile phones attract 12 per cent duty, while GST on some of its inputs are 18 per cent. With regard to footwear, the Council, in June last year, had lowered GST rate to 5 per cent on items worth up to Rs 1,000, while those above this value attract 18 per cent duty. However, inputs used by the sector attract GST rate in the range of 5-18 per cent. The textiles sector currently has a differential GST rate of 5, 12 and 18 per cent. This leads to difficulty in issuing and claiming of refunds by exporters. GST rate on chemical fertilisers is currently at 5 per cent, while inputs are taxed at 12 per cent. The committee of officers set up to suggest ways to augment revenue had earlier suggested several measures to remove anomalies such as inverted duty structure, which causes an annual revenue loss of Rs 20,000 crore. According to the panel, manufactured goods like fertilisers, mobile phones, footwear, renewable energy equipment, and man-made yarns attract GST of 5-12 per cent, thereby leading to an inverted duty structure, where GST on finished goods is less compared to the duty on inputs. The official further said that in view of Infosys failing to stabilise the GSTN software even after 30 months of its launch, the Council is likely to defer the new return filing system from the earlier envisaged date of April 1. Also, mandatory generation of e-invoice for business-to-business (B2B) transactions for businesses with a turnover of over Rs 100 crore is likely to be deferred by three months till July 1. Also, the Council will decide on lottery offers under GST from April 1 by conducting lucky draws every month for invoices of all business-to-customer (B2C) transactions. Launched on July 1, 2017, GST has subsumed over a dozen indirect taxes, like excise and service tax. However, revenues under the new indirect tax regime has not picked up as per expectations mainly on account of evasion. JD HRS

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RIL and BP expect to sell gas from KG-D6 deep water blocks starting February

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